How Steemit Works? [Minnow Guide]

Hello Steemers ,

Do you know :

• What is Steemit.com?
• How Steem Works?
• How New Steems Generated ?
• How Many Steem Created Daily ?

I will answer to this questions + extra questions that may a minnow has.
but,

What is Minnow ?

if you are new registered account on steemit , you are minnow.
in other words , minnow has less Steem Power.
according to less Steem power , Minnow upvote has less effect on Post Reward.
(I will explain what is Steem Power)

Like me , I registered 11 Days Ago.

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according to the FAQ of Steemit :

Steemit is a social network and content rewards platform that makes the crowd the beneficiaries of the attention economy. It does this be rewarding users with STEEM.
Steemit has redefined social media by building a living, breathing, and growing social economy; a community where users are getting rewarded for sharing their voice.

In Summary :

Steemit is a place that allow people to make money by :
Sharing Good Contents
Upvoting Good Contents

Steemit is a place that Good Contents Created and Grow.
by using Steemit You can Learn , Enjoy and Earn.
But ,
You need to be Active and Communicate with other Steemians.

Image Source
If you spend more time :

• You will learn how to make good content
• You will get more followers
• as a result , you will earn more Steem

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according to the FAQ of Steemit :

Steemit is a social media platform that works by having the crowd reward the crowd for their content. It does this thanks to the Steem blockchain and cryptocurrency; Steem is 'minted' daily and distributed to content producers according to the votes they get.

in summary:

It is free to post, comment, and vote on content on Steemit.com.
Steemit.com using steems that created by steem blockchain , to pay reward of steem users posts.

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according to the FAQ of Steemit :

Blockchains like Steem and Bitcoin produce new tokens each time a block is produced. Unlike Bitcoin, where all of the new coins go to the block producers (called miners), the Steem blockchain allocates a majority of the new tokens to a reward fund. The reward fund gives users tokens for participating in the platform.

in Summary:

it is like bitcoin blockchain ,
in bitcoin Blockchain
Users Get Bitcoin For Mining.

But in Steem Blockchain
Users Get Steem For participating.

How Much Will Earn Author and Voter?

• 75% of new steems go to the reward pool, which is split between authors and curators.
  -- 75% to authors
  -- 25% to curators
• 15% of the new steems are awarded to holders of STEEM Power.
• The remaining 10% pays for the witnesses to power the blockchain.

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according to FAQ of Steemit :

Starting with the network's 16th hard fork in December 2016, Steem began creating new tokens at a yearly inflation rate of 9.5%. The inflation rate decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this pace until the overall inflation rate reaches 0.95%. This will take about 20.5 years from the time hard fork 16 went into effect.

in Summary:

Steem blockchain is planned to create Steem each year more than past year.
steems created next year will be 9.5% more than steems created this year.
and each year this percent will decrease by ~ 0.5%
so :
first year 9.5%
second year 9%
...
until 0.95%
and it will be fixed at 0.95%

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You can Change Your Steem and Steem Dollar (SBD)
to Bitcoin or any CryptoCurrency
and then change Bitcoin
to USD or EUR or Your Country Currency.

There is many posts that will help you ,
for example :

Sell Steem Dollars via Poloniex
by @ash

Withdraw Steem Dollars to a Bitcoin address
by @piedpiper

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What is the difference between STEEM, STEEM Power, and Steem Dollars?

Steem and Steem Dollar
Can be Transfered Instantly,
or Traded in Internal Market.
Market URL : https://steemit.com/market
and you can check Price of Steem and SBD on http://steemdollar.com/

but Steem Power is Different ,
Steem Power (SP) is Your Upvoting Power ,
More SP = More Effect on Post Reward

you can use your Steems to Power Up your Steem Power
Power Up will be Instantly

also You can Power Down From Steem Power to your Steem Wallet,
But it takes over a 13 week.

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What is delegated STEEM Power?

The following text is copied from Steemit FAQ :

Users have the option to delegate STEEM Power to other users. When a user is delegated STEEM Power, their content votes and curation rewards are calculated as if it were their own STEEM Power. Users are not able to power down or cash out delegated STEEM Power, as it still belongs to the original owner.

Most users will have a small amount of STEEM Power delegated to them by the Steemit account after creating an account via Steemit.com.

Delegated STEEM Power shows up in a user's wallet below their actual STEEM Power balance in parentheses.

in Summary :

It is a Helping Method ,
That Help to People With Low SP.

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Note : if someone asked your password ,
For delegating SP
refuse it,
Some People Are trying to Scam by this way.

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Last Word :

I hope by writing this post ,
i helped to even 1 person .
(as i said i used some text from https://steemit.com/faq.html)

Can i ask you something?
if you like this post , Please Upvote ,
and Show it to your followers by Resteeming.

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Regards ,
Mahdi Yari ,
2017-06-24 .